Egypt to stop importing LNG as early as July

Turning now to business news: Egypt could stop importing LNG as early as July, well ahead of its previous schedule, Oil Minister Tarek El Molla said, according to Reuters. LNG imports were previously on track to end by late 2018 or early 2019. Plans to turn Egypt into a regional gas hub had been set to the end of the year after Zohr came online last month. El Molla said the country will save USD 250 mn per month by no longer importing LNG. EGAS is expected to hold an international tender to import LNG shipments for 2Q2018 sometime this month. This would make this upcoming tender the last one prior to ending LNG shipments.